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Qualification Shares:
S.183(1) provides that it shall be the duty of every director who is by the articles of the company required to hold a specified qualification, and who is not already qualified, to obtain his qualification within two months after his appointment, or within the shorter time (if any) fixed by the articles.
Subsection (3) further provides that if the director fails to obtain his share qualification, or ceases to hold the required number of shares, he shall vacate his office. If he does not actually do so but continues to act as director he becomes a de facto director : Rv Ivan Arthur Camps (67).
2. S.186 : Age Limit
S.186 provides that no person shall be capable of being appointed a director of a public company or a private company which is a subsidiary of a public company if at the time of his appointment-
a) He has not attained the age of twenty-one; or
b) b) he has attained the age of seventy.
Legislature-Executive Trade off Let us move a bit closer to the reality. In standard modes of policy optimization we assure that there is a single policy maker, who controls th
Assets and liabilities of the company: Within 14 days of the making of the order for winding up a statement of affairs must be delivered to the liquidator (Official Receiver)
Question 1: Why are some activities organized through private collective action, that is, the market whereas other activities are organized through public collective action?
Determine the term miscoordination - Policy Formation A problem known as miscoordination in Policy Formation may also emerge and it may be either vertical or horizontal. Let us
Correspond With Description - Terms Used In Contract With S.15 provides that, where goods are sold through description whether is an implied matter that the goods correspond w
QUESTION 1 Section 39 of the Public Procurement Act provides for cancellation of a bidding process in specific circumstances. State those circumstances and the implications of
What is the difference between an express term and an implied term? Provide me with an example of each.
What are the ways of aggregate demand policy To illustrate some of the issues involved in policy coordination we will focus on monetary policy. We discuss three ways in which
Contents of Group Accounts: By s.152(1), the group accounts laid before a company shall give a true and fair view of the state of affairs and profit or loss of the company and
Liability: The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in
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